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Betting Odds Explained

Betting Odds Explained
Betting Odds Explained mobile

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Betting Odds are simply a measure of probability. They represent the most likely outcome of a particular event.

Below is how bookmakers display their odds:

Fractional Betting Odds Explained

Fractional betting odds are the traditional way of showing odds in the UK. They show the total to be paid out for a successful bet in relation to the stake.

Betting £1 at Odds of 5/1 would return £6. You win £5 plus your stake of £1.

Be careful you are looking at the fraction correctly because:-

Betting £1 at Odds of 1/5 would return £1.20. You win 20p plus your stake of £1.

Decimal Betting Odds Explained

Decimal betting odds are more common in Europe. They show an outcome equivalent to the decimal value of the fractional odds plus one.

5/1  would be Decimal 6.
Betting £1 on Decimal 6 would return £6.

1/5 would be Decimal 1.2.
Betting £1 on Decimal 6 would return £1.20.

American Betting Odds Explained

American betting Odds are also known as Moneyline or US Odds. The figure quoted will be either positive or negative.

If they are shown with a + sign it means how much you would win on a £100 stake.

If they are shown with a – sign it means how much you would have to stake to win £100.

5/1 (Decimal 6) would be +500.
Betting £1 on US +500 would return £6.

1/5 (Decimal 1.2) would be -500
Betting £1 on Us -500 would return £1.20

2 to 1 odds or 2/1 is a way of displaying the decimal odds 3.

 

In probablitiy terms, there is 1 in 3 chance of the selection winning.

 

If you place a bet of £10 on odds of 2/1 and your selection wins, you will win £20 plus your stake of £10 will be returned. So the outcome would be £30.

1 to 2 odds or 1/2 is a way of displaying the decimal odds 1.5.

 

In probablitiy terms, there is 2 in 3 chance of the selection winning.

 

 

If you place a bet of £10 on odds of 1/2 and your selection wins, you will win £5 plus your stake of £10 will be returned. So the outcome would be £15.

5 to 2 odds or 5/2 is a way of displaying the decimal odds 3.5.

In probablitiy terms, there is 28.57% chance of the selection winning.

If you place a bet of £10 on odds of 5/2 and your selection wins, you will win £25 plus your stake of £10 will be returned. So the outcome would be £35.

2 to 5 odds or 2/5 is a way of displaying the decimal odds 1.5.

In probablitiy terms, there is 71.42 chance of the selection winning.

If you place a bet of £10 on odds of 2/5 and your selection wins, you will win £4 plus your stake of £10 will be returned. So the outcome would be £14.

We find that changing the odds format to decimal really helps new bettors understanding odds. Fractions can get confusing especially during a time sensitive time like before a race.

We have put together a great odds conversion table to help you change fractions to decimals.

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